As I read the book, I was struck past times how relevant many of the exercises are for traders inward fiscal markets. In this brusque serial of posts, I volition outline several mutual areas of challenge for traders too techniques for working on those, every bit outlined inward the book. We volition get amongst procrastination, the style to avoid things that nosotros know nosotros demand to do.
Dr. Gillihan points out that many factors tin contribute to procrastination, including fearfulness of falling brusque inward our surgical physical care for too avoidance of discomfort. One mutual expanse of procrastination amid traders is putting off the function of preparing for the trading day, whether it's completing a magazine or laying out plans for the coming session. Some of the techniques MD Gillihan outlines inward the mass for overcoming procrastination are:
a) Using a Calendar - The to a greater extent than specific nosotros are close the function nosotros desire to produce too when nosotros desire to produce it, the to a greater extent than probable it is that we'll larn the tasks done. I similar scheduling daily activities for the same fourth dimension each day, turning function routines into positive habit patterns. Scheduling activities a solar daytime ahead too reviewing the coming day's calendar inward the eve helps prime number us for action. For unpleasant tasks, I schedule a payoff menstruation next the completion of the task.
b) Working inward Shorter, Uninterrupted Segments - MD Gillihan points to what is known every bit the Pomodoro technique, inward which function is broken downward into 25 infinitesimal segments that are uninterrupted. This has the natural payoff of making a large workload to a greater extent than doable too it provides mini-breaks for renewing our publish energy too willpower. I purpose the breaks betwixt function segments every bit mini-rewards, when I tin stimulate got a snack, play amongst i of the cats, etc.
c) Mindfulness - Many times procrastination results from distraction too (negative) thoughts close the future. We tend to avoid what nosotros anticipate volition last uncomfortable. By bringing our attending too awareness to the acquaint through methods similar meditation, nosotros tin take mental clutter too focus on doing i matter at a time. Very often, breaking through too completing i or 2 subtasks tin Pb to momentum too completing a larger project.
d) Self-Reminders - H5N1 powerful technique is to vividly remind ourselves of the negative consequences of behaviors nosotros wishing to avoid. This plant good inward alcohol treatment, where the mental rehearsal of the negative consequences of drinking helps a someone avoid relapse too helps them plough over out for support. Reminding ourselves that procrastination prevents us from beingness the best traders nosotros tin last tin decease a helpful prod toward action.
Another technique that plant good for me is a shift of environment. When I desire to consummate a hard task, such every bit editing a writing project, I volition select my calculator to a Starbucks or the nutrient courtroom of a large grocery shop too I commit to non leaving until the function is completed. In the novel environment, at that spot are no other distractions (phone, emails, interruptions from people) too I uncovering it slowly to larn into into a focused function mode. Sometimes the environmental shift is every bit elementary every bit playing music inward the background spell I work, providing stimulation that doesn't distract. (I'm listening to JWeihaas every bit I'm writing this).
Our actions play an of import business office inward shaping our sense of ourselves. We cannot deed every bit decisive traders if the bulk of our fourth dimension is spent inward procrastination mode. Avoiding whatever unmarried chore may look to stimulate got few consequences. H5N1 pattern of avoidance, however, reduces our productivity too effectiveness. Ultimately, nosotros are either inward command of the fourth dimension too challenges of life or those command us. How nosotros approach our efforts daily shapes the mindset that emerges inward our trading.
There is much to last said for using daily calendars every bit repeated experiences of efficacy.
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